After the latest attacks on vessels, oil tanker owners face surging insurance costs to load cargoes from the Persian Gulf, the world’s largest crude-export region. War risk insurance premia that owners pay each time their vessels go to the region have now gone up to at least $185,000 for supertankers, it is learnt. Incidentally, they had risen to $50,000 after the attacks a month ago.
Both owners and the companies that charter their ships paused bookings in the immediate aftermath of the attacks last week as they re-evaluated risks to shipping crude from the Middle East in the wake of attacks on two more tankers just a month after similar incidents, reports said.
The attacks occurred just outside the Strait of Hormuz, a vital corridor for crude oil exports.
C-TPAT is a voluntary partnership between governments and carriers to ensure supply chain security.
